Helmerich & Payne (HP) PT Set at $68.00 by Royal Bank of Canada

Royal Bank of Canada set a $68.00 price target on Helmerich & Payne (NYSE:HP) in a research report released on Thursday morning. The firm currently has a hold rating on the oil and gas company’s stock.

Several other research analysts have also recently commented on HP. B. Riley reiterated a neutral rating on shares of Helmerich & Payne in a report on Wednesday, November 1st. SunTrust Banks reiterated a sell rating and issued a $37.00 target price (down from $66.00) on shares of Helmerich & Payne in a report on Tuesday, October 3rd. Cowen set a $50.00 price target on shares of Helmerich & Payne and gave the stock a hold rating in a research report on Wednesday, October 18th. BMO Capital Markets reissued a sell rating on shares of Helmerich & Payne in a research report on Friday, October 13th. Finally, Tudor Pickering raised shares of Helmerich & Payne from a hold rating to a buy rating in a research report on Thursday. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. Helmerich & Payne presently has a consensus rating of Hold and a consensus target price of $55.38.

Helmerich & Payne (HP) opened at $64.32 on Thursday. Helmerich & Payne has a 12-month low of $42.16 and a 12-month high of $81.30. The firm has a market cap of $7,060.00, a PE ratio of -54.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.19 and a current ratio of 3.59.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. Helmerich & Payne had a negative net margin of 4.08% and a negative return on equity of 2.11%. The company had revenue of $532.30 million during the quarter, compared to analysts’ expectations of $493.78 million. During the same period last year, the company posted ($0.33) earnings per share. The business’s revenue for the quarter was up 60.5% on a year-over-year basis. sell-side analysts expect that Helmerich & Payne will post -0.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.35%. The ex-dividend date is Friday, February 9th. Helmerich & Payne’s payout ratio is presently -235.29%.

In other news, Director Chapman Paula Marshall sold 2,555 shares of Helmerich & Payne stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $57.80, for a total value of $147,679.00. Following the transaction, the director now owns 12,525 shares of the company’s stock, valued at $723,945. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.90% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC bought a new position in shares of Helmerich & Payne during the third quarter valued at $217,000. Swiss National Bank raised its holdings in shares of Helmerich & Payne by 3.1% in the second quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock valued at $21,467,000 after buying an additional 11,800 shares during the last quarter. Honkamp Krueger Financial Services Inc. bought a new position in shares of Helmerich & Payne in the third quarter valued at about $286,000. Brookstone Capital Management bought a new position in shares of Helmerich & Payne in the second quarter valued at about $284,000. Finally, Andra AP fonden raised its holdings in shares of Helmerich & Payne by 65.7% in the second quarter. Andra AP fonden now owns 29,000 shares of the oil and gas company’s stock valued at $1,576,000 after buying an additional 11,500 shares during the last quarter.

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Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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